Electric Iron Market Size, Share & Trends Analysis Report By Function (Automatic, Non-automatic), By Product (Dry, Steam), By Application, By Distribution Channel, And Segment Forecasts, 2019 - 2025

Report Overview

The global electric iron market size was valued at USD 1.0 billion in 2018 and anticipated to expand at a CAGR of 8.3% over the forecast period. Increasing demand among the millennials to look well-dressed is expected to promote the utility of these products. Furthermore, a well-ironed set of clothes has become the symbol of an elite society member.

Ironed clothes make one look smarter and leave a better impression. The use of ironing extends the life of the fabric over time as it prevents the clothes from fraying. Furthermore, it is much better than the alternative to dry cleaning, which uses harmful chemical perchloroethylene. Ironing helps in removing the smell of bleach from the clothes.

Student fraternity has emerged as one of the key buyers of the product. Most schools and educational institutions based in Asian countries including India, China, Bangladesh, and Pakistan have a strict uniform. It is made mandatory among students to wear clean and well-ironed clothes to invoke a habit of disciplined, hygienic, and smart lifestyle. People working in corporate have also included ironed clothes as a part of office wear.

Though, it can be noticed that most of these consumers rely on laundry service providers for getting their clothes ironed. The growing popularity of ironing service on account of its affordable prices and easy availability in the neighborhood is expected to remain a favorable factor for the electric iron market.

Product Insights

Dry products contributed a revenue share of more than 50.0% in 2018. These iron products are comparatively smaller and lighter than their counterparts as there is no mechanism to produce steam inside it. These products do not require a lot of maintenance other than cleaning the soleplate and protecting it from scratches. The simple mechanism and limited maintenance spending have kept the prices low and thus, in turn, promoted the product’s use among the common mass.

Stream products are expected to expand at the fastest CAGR of 8.5% from 2019 to 2025. The built-in process of steam production has made ironing faster, easier, and simpler. These products can be used for ironing as well as steaming clothes, thus making it economical to buy one single piece of equipment over two. Additionally, modern models are designed to steam clothes even vertically. Furthermore, some of the organizations have declared steam iron to be better than dry irons for the fabric and thus include only steam irons in their product portfolio. For instance, Black and Decker, a home appliance company, has shifted its complete focus on manufacturing steam iron.

Application Insights

Commercial products contributed a share of 55.4% in 2018. The commercial laundry service providers and tailors form the major contributors to the segment growth. Most tailors stitch the clothes and iron the dress to give it a proper shape and improve the fitting. These types of value-added services also leave a better impression on their clients. Similarly, laundry service providers use large steam appliances to iron, as these products are compatible with large volume and crisp creases quickly. These products are designed with large water reservoirs to assist during long working hours.

The residential application segment is expected to witness the fastest CAGR of 8.5% from 2019 to 2025. An increasing number of middle-income group families across the globe who can afford the appliance and find it economical to buy the product rather than relying upon commercial service providers is expected to play a key role in promoting the market growth.

Distribution Channel Insights

Offline channels accounted for the largest share of 70.6% in 2018 as the people in developing countries including China, India, and Bangladesh hugely rely upon nearby stores and convenience departments. Furthermore, people enjoy shopping through brick and mortar stores for physical verification, instant availability, and ease of comparison. The buyers make sure to verify the product personally before the purchase and in case of further support and maintenance, get back to the sellers.

Online sales are expected to witness the fastest growth as a result of increasing penetration of the parents using smartphones and tablets across the globe. These channels provide access to various products irrespective of any regional and country barriers. Furthermore, large product assortment from different manufacturers projects a huge number of options in front of people.

Most of the manufacturers themselves sell the product through their platforms to extend their buyer reach. The discounts offered on these sites are significant and can attract customers. Besides, the assistance provided by the bloggers over each of these products, their technical specifications, and their comparison to other product forms available in the market makes the decision easy for buyers.

Function Insights

Non-automatic products contributed a share of more than 50.0% in 2018. These products do not have thermostat features and are available at a much lower price as compared to automatic counter forms. The variants got the advantage of early entrants in the market and gained wide popularity. Also, these types of products are widely used by commercial laundry service providers in developing economies such as India, Bangladesh, Pakistan, Nepal, and Myanmar owing to their low-price. Furthermore, non-automated products have heavyweight and the ability to heat up quickly comes handy while ironing large piles of clothes.

Automatic products are expected to register the fastest CAGR of 8.5% from 2019 to 2025. Automatic iron comes with a thermostat that assures that clothes do not get burned or scorched. The balance in temperature also lengthens the life of the appliance as too much heating can cause wear and tear in it.

Regional Insights

North America was the largest market, accounting for 30.8% share of the global revenue in 2018. This growth is attributed to the availability of a wide assortment of products suitable for different requirements. Furthermore, according to the World Bank Data, 100% of the population in Canada, the U.S., and Mexico have access to electricity, which fulfills the basic requirements to be able to use electric iron. Shifting the focus of the common mass from struggling for basic amenities towards living a luxurious lifestyle is driving the market.

Asia Pacific is expected to be the fastest-growing market, expanding at a CAGR of 9.1% from 2019 to 2025. Manufacturers from Japan and China have been making efficient products with the least expense. Their strong distribution channels have made the product available for the common mass at low prices. Moreover, increasing access to electricity has been a key factor in driving the market. In 2018, India completed the electrification of all its villages, thereby enlarging the target segment. Similarly, according to the World Bank data, the electrification rate in Indonesia has reached 95% and 80% in Bangladesh, thus creating a ripple in the market.

Key Companies & Market Share Insights

Some of the key players are Bajaj Electricals Ltd.; BCL Electronic; BLACK+DECKER Inc.; BSH; Home Appliances FZE; Crompton; Eveready Industries India Ltd.; Groupe SEB India; Hamilton Beach; Havells India Ltd.; Impex technologies.in.; Jaipan; Koninklijke Philips N.V.; Orient Electric; Osian; Panasonic; Sears Brands, LLC (Kenmore); and Singer.

The market is driven by continuous product renovations and the inclusion of features that make the product suitable to a different class of consumers. In rural areas where the quality of power supply is questionable and voltage fluctuation and power surge and spikes can be noticed, power-efficient products are required. Similarly, a class of population has been demanding products that are efficient, handy, and luxurious to use.

Electric Iron Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For this study, Grand View Research has segmented the global electric iron market report based on function, product, application, distribution channel, and region:

• Function Outlook (Revenue, USD Million, 2015 - 2025)

  • Automatic

  • Non-automatic

• Product Outlook (Revenue, USD Million, 2015 - 2025)

  • Dry

  • Steam

• Application Outlook (Revenue, USD Million, 2015 - 2025)

  • Residential

  • Commercial

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)

  • Offline

  • Online

• Regional Outlook (Revenue, USD Million, 2015 - 2025)

  • North America

    • The U.S.

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • India

    • China

  • Central & South America

    • Brazil

  • Middle East & Africa (MEA)

    • UAE